Sprint Nextel posts increase in Q4 revenue, earnings

Sprint Nextel, the third largest wireless carrier in the US , said that fourth-quarter profits rose 33% on stronger revenue, but the company continued to lose high-quality subscribers, according to an Associated Press report.

The Associated Press report said the company reported earning $261 million during the October-December period, compared with $195 million, a year earlier.

The fourth quarter earnings were one penny better than that expected by analysts surveyed by Thomson Financial, the report said.

Revenue for the quarter rose 6% to $10.44 billion from $9.79 billion, surpassing analysts' prediction of $10.39 billion, it added.

The company's customer base grew by 1.3 million customers during the quarter, to end the year at 53.1 million, the report further said.